Roughnecks take a break from working the Peterson Drilling Company rig in Carlsbad, New Mexico, February 26, 2000.  (Photo by Joe Raedle)

Dune Energy sells off Texas, Louisiana oil fields for $19 million

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Dune Energy is one of a handful of U.S. oil producers to seek Chapter 11 bankruptcy protection this year in the wake of the oil-market crash.

Aspirations Need to Reflect Reality

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President Obama has just announced tougher emissions reductions for EPA’s Clean Power Plant regulation—32% reduction from 2005 levels by 2030. Since actions have consequences, there are two simple questions that need to be answered to understand this proposal. The first is how the reductions are to be achieved. The second is what are the economic […]
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(Daniel Acker/Bloomberg)

Enbridge moves into the black, but earnings still dip 24 percent

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Enbridge said it is reviewing a potential transfer of its U.S. liquids pipelines into its Houston-based Enbridge Energy Partners master-limited partnership, but that current market conditions don’t support the move for now.
This  April 17, 2015 file photo, with the Olympic Mountains in the background, a small boat crosses in front of an oil drilling rig as it arrives in Port Angeles, Wash., aboard a transport ship after traveling across the Pacific.  (Daniella Beccaria/seattlepi.com via AP, File)

Damaged Shell icebreaker arrives in Oregon for repairs

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Environmental activists in Portland are protesting the arrival of the Fennica, a vessel that Royal Dutch Shell plans to use in its Arctic offshore drilling project after it’s repaired.

Commentary: U.S. Energy Exports Are Fundamental Global Energy Security

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Very rarely does Congress put the level of effort and attention into one topic as they have in debating domestic energy exports. But rightfully so. The shale oil and natural gas revolution has dramatically changed the U.S. energy portfolio in ways most could not have predicted and our current policies tuned to the notion of […]
Categories: featured, General, p2
CB&I Chairman and CEO Philip K. Asherman, May 23, 2014 in The Woodlands, TX. (Eric Kayne/For the Chronicle)

CB&I reports net profit, new contracts

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CB&I said it made a net profit of $169.5 million, or $1.55 million per diluted share, during the April through June period, which was up from $142.4 million during the same time last year when the company was struggling more financially. The total revenues were down slightly at $3.2 billion from $3.3 billion last year.
Weatherford International CEO, Bernard Duroc-Danner. (Michael Paulsen/Houston Chronicle file photo)

Weatherford takes “brutally realistic” approach to U.S. job cuts

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Weatherford will make another 1,000 job cuts, mostly in its U.S. support staff, as its onshore shale business continues to suffer with low oil prices, the company’s CEO said in its second-quarter earnings conference call.
Subsea trees are shown at FMC Technologies, 1777 Gears Road, Wednesday, June 4, 2014, in Houston. ( Melissa Phillip / Houston Chronicle )

FMC Technologies plans further layoffs

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FMC Technologies executives say its joint venture with another subsea oil-equipment maker has been welcomed by operators but it will have to continue to cut its workforce in coming quarters as activity stagnates.
Workers on Ridgewood Energy's Vermilion 344 project.

Ridgewood launches huge deep-water Gulf fund, says it can find oil for $20 per barrel or less

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As other companies slow down their expensive deep-water Gulf investments, Ridgewood says it can find and develop oil there for cheap.
Derailed oil tanker cars lie off track near Culbertson, Mont., Friday, July 17, 2015. The tank cars were hauling fuel from North Dakota and derailed Thursday in rural northeastern Montana, authorities said. (AP Photo/Richard Peterson)

Officials: Oil train didn’t speed before Montana derailment

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A train that derailed and spilled 35,000 gallons of oil in northeastern Montana was traveling within authorized speed limits, federal officials said Monday as they continued to probe the accident’s cause.